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F&O HIGHLIGHTS

LONG BUILD UP IS SEEN IN THE BANK NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16000 LEVELS???????

* Nifty broke the three day winning streak as technology stocks fell sharply on the back of lower than expected result from TCS. Nifty ended the day with the losses of 5 points to close at 16216 levels.

* Long build up is seen in the Nifty Futures from lower levels where Open Interest rose by 8% with Nifty recovering more than 100 points from the intraday low.

* Long build up is seen in the Bank Nifty Futures too, where Open Interest rose by 7% with Bank Nifty rising by 1%.

* Nifty Open Interest Put Call ratio rose marginally to 1.21 level from 1.20 levels. Amongst the Nifty options (14-July Expiry), Call writing is seen at 16200- 16300 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16200 - 16300 levels. On the lower side, an immediate support is seen in the vicinity of 16000-16100 levels where we have seen Put writing .

* Short build up is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 525 Cr with their Open Interest going up by 7450 contracts.

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